The Kroger Co. (NYSE: KR/S&P “BBB”/Moody’s “Baa1”) manufactures and processes food for sale in its supermarkets. The company operates retail food and drug stores, multi-department stores, jewelry stores, and convenience stores. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; multi-department stores provide general merchandise items, such as apparel, home fashion and furnishings, outdoor living, electronics, automotive products, toys, and fine jewelry; and price impact warehouse stores offer grocery, and health and beauty care items, as well as meat, dairy, baked goods, and fresh produce items. The company operates under the banner brands, such as Kroger, Ralphs, Fred Meyer, King Soopers, etc., as well as Simple Truth and Simple Truth Organic brands. Kroger is one of the world’s largest food retailers, with fiscal 2016 sales of $115.3 billion. Kroger spans many states with more foramts that include grocery and multi-department stores, convenience stoers and jewelry stores. They operate under two dozen banners, all of which share the same belief in building strong local ties and brand loyalty with its customers. They believe that their customer base is becoming increasingly diverse - not only in terms of ethnicity, but also in terms of income levels, household mix and purchasing patterns. Their wide variety of store formats is among their key strengths that set them apart from competitiors.